China unveils final rules for Nasdaq-style high-tech board

China’s securities authorities released final rules for the country’s new Nasdaq-style high-tech board, which could compete with Hong Kong, S.A.R., China and New York for listing of China-based tech companies, including biotechs. To be hosted at Shanghai Stock Exchange, the new board could allow prerevenue biotechs to be listed, provided they have valuations of no less than 4 billion Chinese yuan ($600 million) and at least one product cleared for phase 2 studies, according to the registration rule (Chinese, PDF).

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http://www.sse.com.cn/lawandrules/sserules/tib/review/a/20190302/a9be0ddb9baed2b57e35f436b4b752d4.pdf

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